The markets are observing President’s Day Monday the 21st. The floors of the CBOT and NYSE are closed; however, Globex is open for a few hours for hedging purposes and the market is lower. It looks like the market couldn’t ignore the global problems forever and is making a small move during this off day.
The unrest that has been spreading in Northern Africa and the Middle East has continued. Until now, it has been disregarded but the growing violence in Libya – an oil producer – is getting worse. The bloodshed has spread to the capital of Tripoli and the parliament building is ablaze.
For the few markets that were temporarily open via electronic sessions only, this has caused a “flight to safety.”
The unrest that has been spreading in Northern Africa and the Middle East has continued. Until now, it has been disregarded but the growing violence in Libya – an oil producer – is getting worse. The bloodshed has spread to the capital of Tripoli and the parliament building is ablaze.
For the few markets that were temporarily open via electronic sessions only, this has caused a “flight to safety.”
Trade Date: 2/18/11
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